Russ, Home Buyer in 60613

Online Rental Comps resource in Chicago

Asked by Russ, 60613 Sat Oct 6, 2007

Can anyone recommend good online rental comp resources in Chicago? What I've done so far is just check THE READER...but, I'm finding that the range for a 2br/2ba is larger than I'd expect and it's hard to compare a potential rental property to see where my rental point would be.

I asked my buying agent and he said that's how he'd get comps is by checking the reader. Any other suggestions would be welcome.

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6
Pam Winterbauer’s answer
Prior to renting a property we usually do a "Rental Survey". The survey is done by checking out the current local rents in the area by using the local paper, craigslist and property managment companies. This is done to make sure the rent is in order.
1 vote Thank Flag Link Sat Oct 6, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
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The best tool I have seen by far for rental comps is at Rent Jungle http://www.rentjungle.com/comparerent/ You can see house and apartment rent comps for all the major cities in the US. Shows averages based on building quality as well as current ads on apartments for rent in your area. It's free too.
0 votes Thank Flag Link Sat Oct 24, 2009
Thanks Sara. That's a great little site for comparison reasons. I agree though, local knowledge and real apples to apples comparisons are what's truly needed in the end. Still though, this is a nice tool.
0 votes Thank Flag Link Tue Oct 16, 2007
There is a really cool website called http://www.rentometer.com that will give you a general idea of average rents. Of course, this is just a computer generated number and a Realtor will be able to give you a much more accurate number, but it is a great place to start.
Web Reference: http://www.rentometer.com
0 votes Thank Flag Link Tue Oct 9, 2007
Thanks for the clarification and your input as well Pam. Much appreciated.

I will be speaking with my agent more on this as we get into the renter/investment side next (just put in an offer on a primary residence today).

Sounds like the online resources are the local paper and Craig's List for me to check online before he does what he does then. It would be nice to have a rental search tool that allowed you to list the address of a potential property, bed/bath/sf counts, exposure, floor level, amenities, and then set a radius to search for the comps. That would be the golden egg. :)
0 votes Thank Flag Link Sat Oct 6, 2007
Hello Mansur and thank you for responding to my question. As I noted in my query, I did ask my buying agent and he indicated that he would be using the READER to get comps as well. Are you suggesting I contact a different agent for this?

Thanks
0 votes Thank Flag Link Sat Oct 6, 2007
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